JOURNAL ARTICLE

House Tax Bill Draft Calls for $30,000 SALT Deduction Limit.

  • Published In: Bloomberg.com, 2025. P. N.PAG 1 of 3

  • Database: Business Source Ultimate 2 of 3

  • Authored By: Wasson, Erik 3 of 3

Abstract

The House tax committee's draft bill proposes increasing the state and local tax deduction to $30,000 for couples, with a limit for households earning $400,000 or less. Individuals earning up to $200,000 could claim $15,000 in SALT deductions. Lawmakers from high-tax states are advocating for a higher cap, while Republicans from high-earning districts may push back against income limits on the tax break. The bill's details are still being debated, with the House Ways and Means Committee scheduled to discuss the legislation. [Extracted from the article]

Additional Information

  • Source:Bloomberg.com. 2025/05, pN.PAG
  • Document Type:Article
  • Subject Area:History
  • Publication Date:2025
  • Accession Number:185136030
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